Indian Oil Stocks Split as Crude Prices Surge

  Published 1 year ago

Indian oil producers rise, refiners fall as crude jumps over 10% amid Middle East tensions, boosting upstream firms but hurting refiners.

  • ONGC and Oil India up 2%-3%, driven by higher crude prices from the Middle East conflict.
  • State refiners IOC, BPCL, HPCL drop 3%-3.5%, private Reliance slips 1.2%.
  • Nifty oil gas index down 1.35%, Nifty 50 down 1.2% as sector struggles with rising costs.

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